Trading Update and Notice of Results

RNS Number : 9560Z

Rank Group PLC

16 January 2020

 

16 January 2020

The Rank Group Plc

LEI: 213800TXKD6XZWOFTE12

Trading Update and Notice of Results

Following further positive trading in Digital and the Grosvenor and International venues businesses, underpinned by cost savings from the Transformation Programme, The Rank Group Plc ("Rank") now expects underlying operating profit* pre IFRS16 for the year ending 30 June 2020 to be above current market expectations (analyst range of £93m to £103m) and, based on the trends experienced to date, to be in the range of £105m to £115m.

The Group's operating profit expectations including the impact of IFRS16 are as follows:

	Consensus range	Guidance
Underlying operating profit* pre IFRS16	£93m - £103m	£105m - £115m
Expected impact of IFRS16 on operating profit (offset by increase in finance costs)	-	£8m
Underlying operating profit*	-	£113m - £123m

*Underlying operating profit is operating profit before amortisation of acquired intangibles; revaluation of investments; profit or loss on disposal of businesses; acquisition and disposal costs including changes to deferred or contingent consideration; impairment charges; reversal of impairment charges; restructuring costs as part of an announced programme; charges and credits for financing fair value remeasurements; discontinued operations and exceptional items, should they occur in the period.

Rank will announce its interim results for the six months ended 31 December 2019 on 30 January 2020.

A presentation will be held at 9.30am on 30 January 2020, admittance to which will be by invitation only.  Shareholders and analysts wishing to attend the presentation in person should please contact Claire King by email to [e-mail] or by telephone on 01628 504 192.

The presentation will also be accessible via a live webcast, details of which can be found at www.rank.com.

The information contained within this announcement constitutes inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

Enquiries

The Rank Group Plc
Sarah Powell, director of investor relations and communications	Tel: [phone]

 

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